UK Commercial Property REIT (UKCM) has acquired a hotel development opportunity in Leeds for £62.7m from Marrico (Sovereign Square) Ltd, a joint venture between Marrico LLP and Helios. The group will fund the development of the 305-room hotel, which will be completed by Marrico. The 12-storey hotel is scheduled to complete in 2024 and will […]
Land Securities has agreed a deal to sell 32-50 Strand, in London, for £195m, representing a net initial yield of 4.2% to Sinarmas Land Limited, a real estate company listed on the Singapore Exchange. The disposal is in line with Landsec’s strategy to recycle capital into higher return opportunities, and is expected to complete in June 2022. […]
CLS Holdings, the FTSE 250 office landlord with a £2.3bn portfolio in the UK, Germany and France, has proposed a tender offer of its shares due to its persistent and unjustified share price discount to net tangible assets. Subject to the discount persisting, CLS said that it intends to undertake a tender offer of its […]
LXI REIT and Secure Income REIT have agreed terms on a merger that would see LXI acquire the entire share capital of Secure Income. Under the terms of the merger, each Secure Income shareholder will receive 3.32 new LXI shares per one Secure Income share. The deal would see the combined company have net assets […]
Shaftesbury and Capital & Counties Properties have confirmed that they are in advanced discussions regarding a possible £3.6bn all-share merger of the two companies. The merger would create a REIT focused on the West End of London with a portfolio of 2.9 million sq ft of lettable space across Covent Garden, Carnaby, Chinatown and Soho. […]
Life Science REIT has acquired a London office building for £85m as it continues to build its portfolio following launch last year. The group has bought 7-11 Herbrand Street, which is located close to University College Hospital and University College London in London’s Knowledge Quarter of Bloomsbury, King’s Cross and St Pancras, at a net […]
Amazon’s gloomy earnings call last week has taken the wind out of the sails of some of the biggest listed property companies focused on logistics. The profit warning and caution on online sales growth saw 12.7% and 12.6% wiped off SEGRO’s and Tritax Big Box REIT’s market cap in a week (Thursday 28 April to […]
Standard Life Investments Property Income Trust delivered a NAV total return for 2021 of 28.6%, outperforming the AIC UK Property – Commercial peer group average of 17% and the open-ended commercial property funds sector of 9.6%. As valuations recovered over the course of 2021, from the depths of the pandemic, the group’s NAV increased 23.2% […]
Urban Logistics REIT has bought a further £45m of assets as it continues to deploy the funds of its December 2021 fundraise. The company has acquired the East Midlands Logistics Hub for £40.7m at a net inital yield of 6.8%. The property consists of a 72-acre site with four logistics units totalling more than 670,000 […]
British Land has agreed a deal to sell a 75% stake in its Paddington Central assets to GIC for £694m. The transaction establishes a new joint venture with ownership split 75:25 for GIC and British Land respectively. The price paid is 1% below September 2021 book value and represents a net initial yield of 4.5%. […]
